Yong received a 40% general partnership interest in the XYZ Partnership in the situation below. Assume the general partners share the economic risk of loss related to recourse liabilities according to their partnership interests. What is Young's basis in his partnership interest?

Young designs the building the partnership will use for its offices. Yong normally would charge a $20,000 fee for a similar building design. Based on the other partner's contributions, the 40% interest has a FMV of $25,000. The partnership has no liabilities.